FTABX vs. FDMMX
Compare and contrast key facts about Fidelity Tax-Free Bond Fund (FTABX) and Fidelity Massachusetts Municipal Income Fund (FDMMX).
FTABX is managed by Fidelity. It was launched on Apr 10, 2001. FDMMX is managed by Fidelity. It was launched on Nov 10, 1983.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FTABX or FDMMX.
Key characteristics
| FTABX | FDMMX | |
|---|---|---|
| YTD Return | 2.06% | 1.67% |
| 1Y Return | 7.56% | 6.43% |
| 3Y Return (Ann) | -0.46% | -0.81% |
| 5Y Return (Ann) | 1.23% | 0.65% |
| 10Y Return (Ann) | 2.45% | 1.77% |
| Sharpe Ratio | 1.96 | 1.90 |
| Sortino Ratio | 2.91 | 2.79 |
| Omega Ratio | 1.46 | 1.44 |
| Calmar Ratio | 0.82 | 0.71 |
| Martin Ratio | 7.96 | 7.02 |
| Ulcer Index | 0.89% | 0.86% |
| Daily Std Dev | 3.63% | 3.23% |
| Max Drawdown | -15.78% | -15.43% |
| Current Drawdown | -2.33% | -3.18% |
Correlation
The correlation between FTABX and FDMMX is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
FTABX vs. FDMMX - Performance Comparison
In the year-to-date period, FTABX achieves a 2.06% return, which is significantly higher than FDMMX's 1.67% return. Over the past 10 years, FTABX has outperformed FDMMX with an annualized return of 2.45%, while FDMMX has yielded a comparatively lower 1.77% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FTABX vs. FDMMX - Expense Ratio Comparison
FTABX has a 0.25% expense ratio, which is lower than FDMMX's 0.45% expense ratio.
Risk-Adjusted Performance
FTABX vs. FDMMX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Tax-Free Bond Fund (FTABX) and Fidelity Massachusetts Municipal Income Fund (FDMMX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
FTABX vs. FDMMX - Dividend Comparison
FTABX's dividend yield for the trailing twelve months is around 3.00%, more than FDMMX's 2.65% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTABX Fidelity Tax-Free Bond Fund | 3.00% | 2.90% | 2.85% | 2.40% | 2.60% | 2.84% | 3.02% | 3.07% | 3.37% | 3.58% | 3.62% | 3.86% |
FDMMX Fidelity Massachusetts Municipal Income Fund | 2.65% | 2.42% | 2.16% | 1.99% | 2.25% | 2.56% | 2.76% | 2.77% | 3.01% | 3.46% | 3.43% | 3.97% |
Drawdowns
FTABX vs. FDMMX - Drawdown Comparison
The maximum FTABX drawdown since its inception was -15.78%, roughly equal to the maximum FDMMX drawdown of -15.43%. Use the drawdown chart below to compare losses from any high point for FTABX and FDMMX. For additional features, visit the drawdowns tool.
Volatility
FTABX vs. FDMMX - Volatility Comparison
Fidelity Tax-Free Bond Fund (FTABX) has a higher volatility of 1.84% compared to Fidelity Massachusetts Municipal Income Fund (FDMMX) at 1.63%. This indicates that FTABX's price experiences larger fluctuations and is considered to be riskier than FDMMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.